Adtran (ADTN-14.3%) plunges after reporting Q2 revenue of $184M (down slightly Y/Y) and EPS of $0.38; the latter beat by $0.03, but the former missed by $6.2M. Much like Acme Packet, Adtran blames a tough telecom capex environment for its woes. The company is guiding for Q3 revenue to be flat to slightly up Q/Q (consensus is for a 20% increase), and says poor visibility leaves it cautious about the near-term. Down in sympathy: CIEN-7%. CALX-6.4%. TLAB-1.7%. (PR)